The Bottom Line The Coronavirus Aid, Relief and Economic Security Act (CARES Act) provides various types of assistance to small businesses impacted by the novel coronavirus (COVID-19) pandemic. In addition to the establishment of the widely publicized Payroll Protection Program (the PPP) and Continue Reading
Rewards and Risks for Distressed Strategic Middle Market M&A
The Bottom Line During the bull market that followed the recovery from the 2008 financial crisis, we saw robust and sustained merger and acquisition (M&A) activity. Acquisitive companies pursued target businesses with strong balance sheets and bright growth prospects. Acquirers and targets Continue Reading
Latest Guidance on Paycheck Protection Program Loan Forgiveness
The Bottom Line The Small Business Administration (the SBA) recently provided additional guidance related to the forgiveness of loans under the Paycheck Protection Program (PPP). On May 15, 2020, the SBA released the PPP Loan Forgiveness Application (the Application) for borrowers to Continue Reading
The Paycheck Protection Program “Necessity Certification” — The Review, Safe Harbor and Potential Penalties
The Bottom Line On May 13, 2020 the Small Business Administration (the SBA) updated its guidance related to the “Necessity Certification” required to be made in connection with a Paycheck Protection Program (PPP) loan application. The Necessity Certification requires that each applicant Continue Reading
Coronavirus Aid, Relief and Economic Security Act: What You Need to Know
Update Since this alert was first published there have been updates to the Paycheck Protection Program addressing what the new program covers and how small businesses can participate. To review the latest information, please consult our COVID-19 Paycheck Protection Program Updates FAQs. The Continue Reading
Tax Provisions Contained in the CARES Act
The Bottom Line The CARES Act offers a number of tax benefits for both individuals and businesses with the aim to enhance taxpayer cash flow for 2020.Both classes of taxpayers need to pay close attention to these tax provisions as a number of them will have an immediate impact on both personal and Continue Reading
Loan Programs Currently Provided by the SBA
The U.S. Small Business Administration (the SBA) was formed pursuant to the Small Business Act of 1953 to encourage the growth of small businesses in the United States. One of the SBA’s primary functions in pursuing its stated goal is to support small businesses through various funding programs, Continue Reading
U.S. Federal Government Proposes Various Changes to SBA Loan Programs to Assist Small Businesses Affected by Coronavirus
The Bottom Line In light of the economic impact of the COVID-19 pandemic, the federal government has taken steps to expand the availability of, and streamline the process for, obtaining loans administered by the U.S. Small Business Administration (SBA). In addition, further changes are expected Continue Reading